Veilix Protocol

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Shielded Balance ​

A shielded balance is the set of unspent notes you can open. It is not a token account.

What you hold ​

Each note has an amount and an asset. Your balance of that asset is the sum of your unspent notes. Notes of different assets do not add. A change note from a partial withdrawal is part of the balance, the same as a note you deposited yourself.

The public Solana wallet that created the deposit can be empty afterward. The value is in the treasury, claimable by the note, not by that wallet.

Creating a note ​

You pick an amount up to the tree cap and deposit. The wallet signs one transaction. The note exists as soon as you generate it, and it becomes spendable once the commitment is in the tree and the indexer has the leaf.

You can create several notes. Each one is independent. There is no account that merges them. To combine value you spend notes one at a time; a single proof spends one real input.

Spending a note ​

Withdraw the full amount, or name a smaller amount and keep a change note. The recipient can be any Solana address the risk check allows, including a wallet you control. Paying yourself to a fresh address is an ordinary withdrawal.

After a successful withdrawal the input note is spent. Spending it again fails. The change note, if you created one, is unspent and has its own secret.

Seeing the balance ​

Two records can reconstruct it:

  1. The note strings you saved. Each string is parsed locally. The client asks whether its commitment is in the tree and whether its nullifier is already published.
  2. A scan with the wallet encryption key. The wallet signs veilix:notes:v1. The client trial-decrypts encrypted outputs in the trees and keeps the notes that open and that match the leaf commitment. Spent notes can be included or hidden.

The scan only finds notes that were sealed: deposits made with on-chain backup, and change notes sealed the same way. A note that was never sealed is invisible to the scan. The saved string is the only copy.

What you cannot see from the chain ​

An explorer will show the treasury growing and shrinking, and will show individual deposits and withdrawals. It will not show a page titled with your shielded balance. That is the point of keeping the sum on the client.